Only beneficiary of Red Feather is the bank |

Only beneficiary of Red Feather is the bank

Dear Editor,

The pro-Red Feather Ridge ads continue to bombard us with promises about all the great benefits that the city will receive if the voters accept the development plan, which City Council approved by a narrow 4-3 vote margin.

The $8 million to $9 million figure is used. This is based on an over-inflated value of $100,000 to $125,000 per acre of land that would be given to the city. Much of this land is undevelopable and of dubious value.

Could the city sell this donated land to get the $8 million to $9 million for use on other city projects? Certainly not.

So who gets the real benefit? You guessed it, MidFirst Bank. They get a nice fat tax write-off for their apparent generosity. We have also been promised a cemetery, a baseball/soccer field and a park.

What MidFirst fails to mention is that the money to develop and maintain these facilities would have to come out of city funds. So much for their generosity. Have you also noticed that, at the present time, the city has not included the annexation of any portion of Four Mile Road in the plan? So much for local control.

The pro-Red Feather Ridge ads are a gross misrepresentation of the facts. No matter how you look at it, the high density, urban-sprawl type development that MidFirst Bank wants the voters to approve benefits only MidFirst Bank. Vote “no” on Red Feather Ridge.

Emil and Patricia Cima

Glenwood Springs

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